Premium tax definition

Premium tax means a tax paid by insurance companies to provincial and territorial governments calculated as a percentage of gross premiums written.
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Premium tax. Any premium taxes owed to any governmental entity and assessed against Purchase Payments or Contract Value.
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Premium tax means with respect to Non-Admitted Insurance, any tax, fee, assessment, or other charge imposed by a government entity directly or indirectly based on any payment made as consideration for such insurance, including premium deposits, assessments, registration fees, and any other compensation given in consideration for a contract of insurance.
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Examples of Premium tax in a sentence

  • If any government entity will impose a Premium tax or surcharge, then upon 30 days’ notice from AvMed, the sums due from the Subscribing Group under the terms of this Contract will be increased by the amount of such Premium tax or surcharge.

  • ANNUITY START AMOUNT Contract Value as of the Annuity Start Date, less any Premium tax and, if applicable, any pro rata Account Charge.

  • Any Withdrawal will reduce Contract Value by the amount of the Withdrawal, any Withdrawal Charges attributable to the Withdrawal, and any Premium tax and pro rata Account Charge.

  • Premium tax may be deducted from a Purchase Payment when accepted, from the Surrender Value, from the death benefit, or from amounts applied to an Annuity Option.

  • Premium tax may be deducted from the Purchase Payment(s) when accepted or from the Contract Value upon a full or partial surrender, death or annuitization.


More Definitions of Premium tax

Premium tax means, with respect to surplus lines or independently procured insurance coverage, any tax, fee, assessment, or other charge imposed by a governmental entity directly or indirectly based on any payment made as consideration for an insurance contract, including premium deposits, assessments, registration fees, and any other compensation given in consideration for a contract of insurance.
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Premium tax means the tax imposed by the state on a contract of insurance equal to the applicable percent, as provided in section 432.1.
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Premium tax means with respect to non-admitted insurance, any tax, fee,
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Premium tax or “Premium Taxes” has the meaning set forth in the Indemnity Reinsurance Agreement.
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Premium tax means with respect to Non-Admitted Insurance,
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Premium tax means any tax charged upon or any monies withheld from a premium by or on behalf of any statutory, governmental, state, provincial or local governmental authority, body or official;
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Premium tax has the meaning set forth in Section 7.4.
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